Terrible Toybox

Alibaba's $1.5B+ Lingxi Games Deal and Blacknut's Up to $215M Round Lead the Week

The gaming industry experienced a notable week of activity, characterized by 11 tracked transactions totaling $1.7 billion.

• Alibaba is divesting its entire stake in mobile developer Lingxi Games to private equity firm Trustar Capital in a deal valued at over $1.5 billion.
• Cloud gaming platform Blacknut raised up to $215 million from Digital Alpha Advisors to fund catalog expansion, infrastructure, and international growth.
• Makers Fund closed its fourth venture fund at $250 million, bringing its total assets under management to $1.5 billion since 2016.